1) The gross income multiplier (GIM) for warehouse properties in a particular part of town is 6.5 If a house in this neighborhood generates gross income of $250,000 per year, what would be its indicated value using the income approach?
The following adjustments are applicable:
House size: $50 per square foot;
Lot size: $1.25 per square foot;
Bedrooms: $4,000 each;
Half bathroom: $750 each;
Brick exterior: $4,500 more than a frame exterior;
Excellent condition: $3,000 more than "good" condition.
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